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He is a member of the Business Roundtable, a group that wants to raise the eligibility age for Medicare and Social Security to 70, cut Social Security and veterans’ benefits, increase taxes on working families, and cut corporate taxes even further.

On December 6, 2002, Jeffrey Immelt said at an investors’ meeting, “When I am talking to GE managers, I talk China, China, China, China, China. You need to be there. You need to change the way people talk about it and how they get there. I am a nut on China. Outsourcing from China is going to grow to $5 billion. We are building a tech center in China. Every discussion today has to center on China. The cost basis is extremely attractive. You can take an 18 cubic foot refrigerator, make it in China, land it in the United States, and land it for less than we can make an 18 cubic foot refrigerator today, ourselves.”

2. Boeing

From 2008 to 2013, while Boeing made over $26.4 billion in U.S. profits, it received a total tax refund of $401 million from the IRS. Boeing’s effective U.S. corporate income tax rate over this six-year period was -2 percent.

Boeing is one of the top recipients of corporate welfare in the United States and has outsourced tens of thousands of decent paying jobs to China and other low-wage countries.

Boeing even has its own taxpayer-funded bank known as the Export-Import Bank of the United States. Boeing has received so much corporate welfare from this bank that it has been dubbed “the Bank of Boeing.”

Boeing CEO W. James McNerney, Jr. made $23.3 million in total compensation last year. Mr. McNerney, as a memberof the Business Roundtable, wants to raise the eligibility age for Medicare and Social Security to 70 and make significant cuts to Social Security.

3. Verizon

From 2008 to 2013, while Verizon made over $42.4 billion in U.S. profits, it received a total tax refund of $732 million from the IRS.

Verizon’s effective U.S. corporate income tax rate over this six-year period was -2 percent.

In 2012, Verizon stashed $1.8 billion in offshore tax havens to avoid paying U.S. income taxes. Verizon would owe an estimated $630 million in federal income taxes if its use of offshore tax avoidance was eliminated.

In 2013, Lowell McAdam, the CEO of Verizon made $15.8 million in total compensation. He wants to raise the eligibility age for Medicare and Social Security to 70, and make significant cuts to Social Security as a member of the Business Roundtable.

In 2012, Bank of America stashed $17.2 billion in offshore tax havens to avoid paying U.S. income taxes. Bank of America would owe an estimated $4.3 billion in federal income taxes if its use of offshore tax avoidance strategies were eliminated.

Last year, Bank of America CEO Brian Moynihan made $13.1 million in total compensation, but he wants to raise the eligibility age for Medicare and Social Security to 70, and make significant cuts to Social Security as a member of the Business Roundtable.

5. Citigroup

Citigroup made more than $4 billion in profits in 2010, but paid no federal income taxes. Citigroup received a $2.5 trillion bailout from the Federal Reserve and U.S. Treasury during the financial crisis.

Citigroup has established 427 subsidiaries incorporated in offshore tax havens.

In 2012, it stashed $42.6 billion in offshore tax havens to avoid paying U.S. income taxes. Citigroup would owe an estimated $11.5 billion in federal income taxes if its use of offshore tax avoidance strategies were eliminated.

Michael Corbat, the CEO of Citigroup, made more than $17.6 million in total compensation last year.

6. Pfizer

Pfizer, one of the largest prescription drug companies in America, not only paid no federal income taxes from 2010 to 2012, it received $2.2 billion in tax refunds from the IRS at the same time it made $43 billion in profits worldwide.

In 2012, Pfizer stashed $73 billion in profits offshore and has used aggressive offshore tax strategies to avoid paying U.S. income taxes.

Hank McKinnell, Jr., who was Pfizer’s CEO from 2001 to 2006, received a golden parachute from Pfizer worth anestimated $188 million.

7. FedEx

In 2011, Federal Express received a $135 million tax refund from the IRS even though it made more than $2.7 billion in U.S. profits that year.

FedEx receives more than $1 billion a year from the U.S. Postal Service to provide air service for all express mail and priority mail shipments.

Frederick Smith, the CEO of FedEx, made more than $12.6 million in total compensation last year.

8. Honeywell

From 2009 to 2010, not only did Honeywell pay no federal income taxes, it received a $510 million tax refund from the IRS even though it made a combined profit in the U.S. of almost $3 billion.

In 2012, Honeywell stashed $11.6 billion in offshore tax havens to avoid paying U.S. income taxes. Honeywell would owe an estimated $4.06 billion in federal income taxes if its use of offshore tax avoidance were eliminated.

David Cote, the CEO of Honeywell, made more than $25.4 million in total compensation last year.

Mr. Cote wants to raise the eligibility age for Medicare and Social Security to 70 and make significant cuts to Social Security as a member of the Business Roundtable.

9. Merck

In 2009, not only did Merck pay no federal income taxes, it received a $55 million tax refund from the IRS, even though it earned more than $5.7 billion in U.S. profits.

In 2012, Merck stashed $53.4 billion in offshore tax haven countries to avoid paying income taxes. If this practice was outlawed, it would have paid $18.69 billion in federal income taxes.

Fred Hassan, the CEO of Merck from 2003 to 2009, received a golden parachute worth an estimated $189 million.

Merck’s current CEO, Kenneth Frazier, has a retirement account worth an estimated $14.4 million. He wants to raise the eligibility age for Medicare and Social Security to 70 and make significant cuts to Social Security as a member of the Business Roundtable.

10. Corning

From 2008 to 2012, not only did Corning pay no federal income taxes, it received a $10 million tax refund from the IRS, even though it earned more than $3.4 billion in U.S. profits during those years.

Corning has stashed $11.9 billion in offshore tax havens to avoid paying U.S. income taxes. Corning would owe an estimated $4.165 billion in federal income taxes if its use of offshore tax avoidance were eliminated.

Wendell Weeks, the CEO of Corning, has a retirement account worth an estimated $22.8 million. Mr. Weeks wants to raise the eligibility age for Medicare and Social Security to 70 and make significant cuts to Social Security as a member of the Business Roundtable.

If Corporate America owned our government we wouldn't have the highest tax rate in the world. And yes some/many companies do pay a whole lotta taxes and close to that tax rate. Perhaps we should include the highest payers to balance out your list before we jump to conclusions about who/what is running our government. See any liberal vs conservative clues here... lol

If Corporate America owned out government they wouldn't have saddled themselves with 216 BILLION dollars of NEW regulations last year alone!

Saying that I'm turning this into a conservative vs liberal issue is absurd. That's like saying don't turn Obamacare into a conservative vs liberal issue! Both sides agree that it has some serious problems but do you really think ignoring the fact that they're at polar opposite sides on what the problem is and how it should be solved isn't relevant? lol

Conservatives believe the way to get Corporate America out of government is to get government out of Corporate America. If government is regulating every aspect of their business why isn't government their business?

Liberals believe the way to get Corporate America out of government is to ban them from participation. i.e. taxation and regulation without participation.

Neither side wants to end corporate welfare if you look at this as more than a catchy soundbite. Are liberals against green energy subsidies? They weren't just a few days ago! lol But they're against corporate welfare by golly. Are conservatives against tax breaks for oil and gas exploration? lol

Quoting Healthystart30:

Quoting MelanieJK:

Pretty hilarious that liberals are just discovering this about Immelt! Conservatives pointed this out about him relentlessly when he was one of Obama's biggest supporters and was getting those green energy deals. MSNBC became the marketing division of the democratic party when GE owned NBC for a reason. It's id pro quid. They get tax breaks and special deals and the politicians get donations etc.

Please! Don't turn this into a liberal vs conservative thing! It takes away from the real issue here, don't you think? They get away with this because the government is owned by big corporations.

First of all the people in the government are republicans and democrats, not every liberal is a democrat. I don't understand all the lol that you put after every paragraph? Do you think this is funny? And yes corporations absolutely own the government! Have you heard about lobbyists? Campaign contributions? And all these regulations are bad for the little business owner, not big corporations that have a full time accountants to stash away their profit and find loopholes so they don't have to pay taxes. The op is a perfect example of what I'm talking about. And no democrats and republicans don't differ that much! They are all trying to stuff their own and their friends pockets as much as they can at a prize for the rest of us. http://m.washingtontimes.com/news/2014/apr/21/americas-oligarchy-not-democracy-or-republic-unive/

I didn't mention democrats and republicans once. Of course they're both against political corruption. Who isn't?! But using Corporate America as the whipping boy for political corruption is a political stunt intended to get votes and nothing else. If you want to fall for that and I'm sure many voters will, fine. But if the "... and nothing else" bothers you and you actually want to solve a problem, you need to address the actual FACTS and points I made rather than just repeating the initial rant.

Start with why is Exxon paying 30 billion dollars in taxes? That's close to the full US rate which is the highest in the world. They're one of the biggest corporations in the world. Dont' they have an army of tax accountants who can stash away their profits and find loopholes? Every company on the list I provided of highest payers has an army of accountants and lawyers.

Im pretty sure that number is what they paid all over the world to different governments. Not just here in the US. Is that what we are discussing here? I didn't look at the link you provided earlier, just commented on what you wrote. Here in the US their tax rate is around 13%. Not to shabby for them. And fall for what? Your reply is a little unclear about that.

No you're wrong. Read the article in the link. It was US taxes.

I just read an article that showed a picture of their own report where it is clearly stated that the majority of these taxes where not paid in the US. I can not find it for some reason

This seems to be a pretty conservative website at least based on the comments and it states that the overall tax rate for Exxon was 140+ million over a five year period. That's taxes payed everywhere they do business. Some countries charge over 70% in taxes from oil companies. So there is no way that they paid 31 billion alone in the USA.

If people had listened beyond the "they just wanna get paid to do nothing" propaganda, this is what Occupy was about - our taxes being handed over to corporations that not only didn't need it, but are managing to legally screw the system.

Yes but that rate is the percentage, clearly. People like to throw that fact out there as if to say that fed ex man is paying less in taxes than his workers. Nonsense. Companies are given breaks to encourage hiring and growth and exploration.

Quoting idunno1234:

How do you think they arrived at those numbers? The US has one of the highest corporate tax rates in the world. BAD. However, corporations tend to pay at a lower rate than sometimes their lowliest worker.....because tax laws have been written in their favor....ALSO BAD.

I am all for lowering the corporate tax rate and closing all the freakin loopholes.

Quoting jamamama00: No this not true at all. Fred started the company. It's HIS company. Why shouldn't he reap the profits? My dad just got something like half a mil tax refund. It damn sure wasn't from losses. It was because he overpaid. Even when losses are shown it is because opportunities were taken, which means jobs were created and private citizens benefited.

Quoting idunno1234:

Lol....no. There are a number of reasons why but one of the main ones is that a corporation is able to finagle, often perfectly legally, its books so that it looks like it lost money, yet can still pay your family friend 12 million. Sound right to you?

Quoting jamamama00: So what?! That just means they overpaid on estimated payments. Happens to my dad all the time. So they essentially loaned the government money. That's a nice thing.

Quoting idunno1234:

"In 2011, Federal Express received a $135 million tax refund from the IRS even though it made more than $2.7 billion in U.S. profits that year."

This is the issue.

Quoting jamamama00: Fred is a family friend. Great guy. If he invented fucking Fed Ex, why the fuck shouldn't he make that much?!

Too bad small business, the backbone of America, does not get the $ame break$ to encourage hiring, growth and exploration.

Quoting jamamama00: Yes but that rate is the percentage, clearly. People like to throw that fact out there as if to say that fed ex man is paying less in taxes than his workers. Nonsense. Companies are given breaks to encourage hiring and growth and exploration.

Quoting idunno1234:

How do you think they arrived at those numbers? The US has one of the highest corporate tax rates in the world. BAD. However, corporations tend to pay at a lower rate than sometimes their lowliest worker.....because tax laws have been written in their favor....ALSO BAD.

I am all for lowering the corporate tax rate and closing all the freakin loopholes.

Quoting jamamama00: No this not true at all. Fred started the company. It's HIS company. Why shouldn't he reap the profits? My dad just got something like half a mil tax refund. It damn sure wasn't from losses. It was because he overpaid. Even when losses are shown it is because opportunities were taken, which means jobs were created and private citizens benefited.

Quoting idunno1234:

Lol....no. There are a number of reasons why but one of the main ones is that a corporation is able to finagle, often perfectly legally, its books so that it looks like it lost money, yet can still pay your family friend 12 million. Sound right to you?

Quoting jamamama00: So what?! That just means they overpaid on estimated payments. Happens to my dad all the time. So they essentially loaned the government money. That's a nice thing.

Quoting idunno1234:

"In 2011, Federal Express received a $135 million tax refund from the IRS even though it made more than $2.7 billion in U.S. profits that year."

This is the issue.

Quoting jamamama00: Fred is a family friend. Great guy. If he invented fucking Fed Ex, why the fuck shouldn't he make that much?!

Too bad small business, the backbone of America, does not get the $ame break$ to encourage hiring, growth and exploration.

Quoting jamamama00: Yes but that rate is the percentage, clearly. People like to throw that fact out there as if to say that fed ex man is paying less in taxes than his workers. Nonsense. Companies are given breaks to encourage hiring and growth and exploration.

Quoting idunno1234:

How do you think they arrived at those numbers? The US has one of the highest corporate tax rates in the world. BAD. However, corporations tend to pay at a lower rate than sometimes their lowliest worker.....because tax laws have been written in their favor....ALSO BAD.

I am all for lowering the corporate tax rate and closing all the freakin loopholes.

Quoting jamamama00: No this not true at all. Fred started the company. It's HIS company. Why shouldn't he reap the profits? My dad just got something like half a mil tax refund. It damn sure wasn't from losses. It was because he overpaid. Even when losses are shown it is because opportunities were taken, which means jobs were created and private citizens benefited.

Quoting idunno1234:

Lol....no. There are a number of reasons why but one of the main ones is that a corporation is able to finagle, often perfectly legally, its books so that it looks like it lost money, yet can still pay your family friend 12 million. Sound right to you?

Quoting jamamama00: So what?! That just means they overpaid on estimated payments. Happens to my dad all the time. So they essentially loaned the government money. That's a nice thing.

Quoting idunno1234:

"In 2011, Federal Express received a $135 million tax refund from the IRS even though it made more than $2.7 billion in U.S. profits that year."

This is the issue.

Quoting jamamama00: Fred is a family friend. Great guy. If he invented fucking Fed Ex, why the fuck shouldn't he make that much?!

Too bad small business, the backbone of America, does not get the $ame break$ to encourage hiring, growth and exploration.

Quoting jamamama00: Yes but that rate is the percentage, clearly. People like to throw that fact out there as if to say that fed ex man is paying less in taxes than his workers. Nonsense. Companies are given breaks to encourage hiring and growth and exploration.

Quoting idunno1234:

How do you think they arrived at those numbers? The US has one of the highest corporate tax rates in the world. BAD. However, corporations tend to pay at a lower rate than sometimes their lowliest worker.....because tax laws have been written in their favor....ALSO BAD.

I am all for lowering the corporate tax rate and closing all the freakin loopholes.

Quoting jamamama00: No this not true at all. Fred started the company. It's HIS company. Why shouldn't he reap the profits? My dad just got something like half a mil tax refund. It damn sure wasn't from losses. It was because he overpaid. Even when losses are shown it is because opportunities were taken, which means jobs were created and private citizens benefited.

Quoting idunno1234:

Lol....no. There are a number of reasons why but one of the main ones is that a corporation is able to finagle, often perfectly legally, its books so that it looks like it lost money, yet can still pay your family friend 12 million. Sound right to you?

Quoting jamamama00: So what?! That just means they overpaid on estimated payments. Happens to my dad all the time. So they essentially loaned the government money. That's a nice thing.

Quoting idunno1234:

"In 2011, Federal Express received a $135 million tax refund from the IRS even though it made more than $2.7 billion in U.S. profits that year."

This is the issue.

Quoting jamamama00: Fred is a family friend. Great guy. If he invented fucking Fed Ex, why the fuck shouldn't he make that much?!

Too bad small business, the backbone of America, does not get the $ame break$ to encourage hiring, growth and exploration.

Quoting jamamama00: Yes but that rate is the percentage, clearly. People like to throw that fact out there as if to say that fed ex man is paying less in taxes than his workers. Nonsense. Companies are given breaks to encourage hiring and growth and exploration.

Quoting idunno1234:

How do you think they arrived at those numbers? The US has one of the highest corporate tax rates in the world. BAD. However, corporations tend to pay at a lower rate than sometimes their lowliest worker.....because tax laws have been written in their favor....ALSO BAD.

I am all for lowering the corporate tax rate and closing all the freakin loopholes.

Quoting jamamama00: No this not true at all. Fred started the company. It's HIS company. Why shouldn't he reap the profits? My dad just got something like half a mil tax refund. It damn sure wasn't from losses. It was because he overpaid. Even when losses are shown it is because opportunities were taken, which means jobs were created and private citizens benefited.

Quoting idunno1234:

Lol....no. There are a number of reasons why but one of the main ones is that a corporation is able to finagle, often perfectly legally, its books so that it looks like it lost money, yet can still pay your family friend 12 million. Sound right to you?

Quoting jamamama00: So what?! That just means they overpaid on estimated payments. Happens to my dad all the time. So they essentially loaned the government money. That's a nice thing.

Quoting idunno1234:

"In 2011, Federal Express received a $135 million tax refund from the IRS even though it made more than $2.7 billion in U.S. profits that year."

This is the issue.

Quoting jamamama00: Fred is a family friend. Great guy. If he invented fucking Fed Ex, why the fuck shouldn't he make that much?!

Too bad small business, the backbone of America, does not get the $ame break$ to encourage hiring, growth and exploration.

Quoting jamamama00: Yes but that rate is the percentage, clearly. People like to throw that fact out there as if to say that fed ex man is paying less in taxes than his workers. Nonsense. Companies are given breaks to encourage hiring and growth and exploration.

Quoting idunno1234:

How do you think they arrived at those numbers? The US has one of the highest corporate tax rates in the world. BAD. However, corporations tend to pay at a lower rate than sometimes their lowliest worker.....because tax laws have been written in their favor....ALSO BAD.

I am all for lowering the corporate tax rate and closing all the freakin loopholes.

Quoting jamamama00: No this not true at all. Fred started the company. It's HIS company. Why shouldn't he reap the profits? My dad just got something like half a mil tax refund. It damn sure wasn't from losses. It was because he overpaid. Even when losses are shown it is because opportunities were taken, which means jobs were created and private citizens benefited.

Quoting idunno1234:

Lol....no. There are a number of reasons why but one of the main ones is that a corporation is able to finagle, often perfectly legally, its books so that it looks like it lost money, yet can still pay your family friend 12 million. Sound right to you?

Quoting jamamama00: So what?! That just means they overpaid on estimated payments. Happens to my dad all the time. So they essentially loaned the government money. That's a nice thing.

Quoting idunno1234:

"In 2011, Federal Express received a $135 million tax refund from the IRS even though it made more than $2.7 billion in U.S. profits that year."

This is the issue.

Quoting jamamama00: Fred is a family friend. Great guy. If he invented fucking Fed Ex, why the fuck shouldn't he make that much?!

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